Chinese companies keen on UP, Akhilesh ready for CMZ

50 companies are in touch with Assocham for setting up an exclusive manufacturing hub, could pump in up to Rs one lakh cr

Chinese companies have expressed interest in investing in Uttar Pradesh which could expect pumping in of at least Rs one lakh crore, according to an industry body that said Chief Minister Akhilesh Yadav is ready to provide land for a Chinese manufacturing zone (CMZ).

Secretary General of ASSOCHAM D S Rawat, who met Yadav yesterday, said around 50 Chinese companies were in touch with the industry body for setting up of an exclusive manufacturing hub in the state, which can take advantage by offering cheap land and tax rebates.

"They want to invest by creating a 'Chinese manufacturing zone' in India and UP suits their needs the best," he said, adding Yadav is "very excited" about the prospects and talked about providing land and other facilities for the manufacturing zone in Mathura.

"The Chief Minister was told about Chinese companies' willingness to invest in UP and he was excited. He said that he was ready to welcome them and will not let this opportunity slip," Rawat said.

He said that ASSOCHAM was preparing a project report regarding proposal of the Chinese companies.

The CM also said that senior officials would be sent to hold meeting with the representatives of Chinese companies, he said.

"We told the CM that if his government provides land and gives some rebate to willing Chinese companies, they will create their own zone.

"They want to bring 100 other companies with them," Rawat said.

"If this project succeeds then it will change the industrial map and fate of the state. The state will get atleast Rs one lakh crore investment from Chinese companies.

"Besides, other countries will get ready to invest in UP," he added.

The Secretary General said that project of Chinese companies would provide direct employment to 30,000 people and indirect employment to 300,000 people.

He said that it would also change the perception of the world towards UP.